What To Know About Goldman Sachs's Downgrade of Paramount Global

Goldman Sachs downgraded its rating of Paramount Global PARA to Sell with a price target of $20.00, changing its price target from $37.00 to $20.00.

Shares of Paramount Global are trading down 4.3% over the last 24 hours, at $24.25 per share.

A move to $20.00 would account for a 17.53% decrease from the current share price.

About Paramount Global

Paramount Global is the rebranded recombination of CBS and Viacom that has created a media conglomerate with global scale. CBS contributed Showtime in addition to its television assets--the CBS television network, 28 local TV stations, and 50% of CW, a joint venture between CBS and WarnerMedia. Viacom brought several leading cable network properties, including Nickelodeon, MTV, BET, Comedy Central, VH1, CMT, and Paramount. Paramount Pictures produces original motion pictures and owns a library of 2,500 films, including the Mission: Impossible and Transformers series. Paramount operates a number of streaming services, most notably Paramount+ and Pluto TV.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.